Bitcoin Whale Sleeping for Six Years Awakened! Moved BTCs Worth 82.3 Million Dollars to New Addresses! Will it sell?

While Bitcoin, the world’s largest cryptocurrency, remains resistant above $ 27,500 in the week when important economic data will be announced, the BTC whale, which has been sleeping for about 6 years, woke up.

In his post on his Blockchain X account, Chinese cryptocurrency journalist Wu said that a Bitcoin whale woke up after being inactive for a long period of 6 years.

Accordingly, the whale transferred approximately 3,000 BTC to other addresses yesterday. At this point, the whale transferred 500 BTC to the address “bc1q… zgyv” and the remaining Bitcoins to the address “bc1q…wnpu”.

It was noteworthy that these two addresses were newly created addresses.

“After remaining dormant for six years, a Bitcoin whale moved approximately 3,000 BTC ($82.37 million worth) at 23:32 UTC+8 on October 9.

He transferred 500 of these BTCs to bc1q…..zgyv, and 2495 BTCs to bc1q…wnpu. Both addresses are new addresses.”

A Bitcoin whale (17TZ…6kRo) transferred approximately 3,000 BTC (USD 82.37 million) at 23:32 UTC+8 on October 9 after dormancy for six years, 500 of which were transferred to bc1q… zgyv, 2495 were transferred to bc1q…wnpu, both of which are new addresses.…

— Wu Blockchain (@WuBlockchain) October 10, 2023

Although there are various reasons why a Bitcoin whale that has not traded for years may take action again, it is generally interpreted that taking action after a long time means that it will sell.

However, it seems possible that it is preparing for an action such as reinvestment other than sales.

*This is not investment advice.